A Simple London Breakout V.2

Usd/Cad

Breakout

T1= +27
T2= +50
T3= +72

Final Total= +149 pips

Next BO trade will start with no multiplier.

Eur/Jpy

Breakout

T1, T2, & T3 trades still open from Thursday, new trades opened using the same multiplier of 34.

T1= +1530 (+45 x 34)
T2= +2788 (+82 x 34)
T3= +1530 (+45 x 34)

Running Total= +5848 pips

T1, T2, & T3 trades closed from Thursday using a multiplier of 34.

T1= +1870 (+55 x 34)
T2= +3400 (+100 x 34)
T3= +1870 (+55 x 34)

Final Total= +12,988 pips

Next BO trade will start with no multiplier.

Gbp/Jpy

Breakout

T1= +58
T2= +1
T3= +1

Running Total= +60 pips

Re-entry

T1= -59
T2= -59
T3= -59

Final Total= -117 pips

Next BO trade will start with a multiplier of 2.

Totals for the week

Breakout Only*

Monday- +707 pips
Tuesday- +908 pips
Wednesday- -1014 pips
Thursday- +1676 pips
Friday- +12,982 pips

Grand total for the week- +15,259 pips

*The CT strategy was changed in the middle of the week and replaced with the New and improved CT strategy, so no results are posted. Just a small note, the new CT strategy would have made +2178 pips starting from Monday. I look forward to posting some new charts on Monday.

i have been testing with some other martingail series, i will post my findings

G'day Mer. I thought I had read all the posts but I have missed something somewhere. I have V3.1 on my charts which has the same values for TP's1, 2 and 3 as V2.1. But on your charts you have TP1 to be about the same as the box size. Which version are you using and can you recall in which post this was discussed?

Look forward to seeing you findings, you can never have enough options.


I am using V3.1 also and the changes were announced in Post #382

Hey guys,

I got an Error with FXCBS broker.
bokerIsECN=true;
SLFactor=1;

09:42:47 LBO FXCBS EA USDCAD,M15: Alert: LB EA: USDCAD OrderSend() FAILED: 0.10 lots at 1.04880,SL=1.04595,TP=1.05355,Ask=1.04880 (130): invalid stops
09:42:49 LBO FXCBS EA USDCAD,M15: Alert: LB EA: USDCAD OrderSend() FAILED: 0.10 lots at 1.04883,SL=1.04595,TP=1.04995,Ask=1.04883 (130): invalid stops
09:42:49 LBO FXCBS EA USDCAD,M15: Alert: LB EA: USDCAD OrderSend() FAILED: 0.10 lots at 1.04883,SL=1.04595,TP=1.05175,Ask=1.04883 (130): invalid stops




I googled it and found this! Maybe it will help squalou!

http://forum.mql4.com/8629

5 digit brokers need everything multiplied by 10, 30 pip stop looks like 3 to them. So 30 pip stop is sent as 300 pip.
I don't know if that's your problem, but it can be a problem.

Dear traders,

Since last Monday I take positions on GBP/USD, EUR/USD or USD/CHF based on your breakout system with for now nothing but winners!
Just keep in mind that I trade temporarily manually (no EA) and only wish
to get out on Target 1 on Buy or Sell entries.
For practical reasons I have no time to wait until an entry level is triggered,
so I use a script where I place OCO orders instead. So I am sure I never miss the boat if an opportunity arises.
Since I am satisfied with a daily gain of about 30 pips, I do not need to attend further more during the rest of the day.

Gilbert.

ECN Quickfix explained in post 426:

http://www.forexfactory.com/showpost...&postcount=426

SQ

Ty, it works now. I did not set this fix before because xmph said that this fix is not good.

http://www.forexfactory.com/showpost...&postcount=434

with ECN brokerz, there's NO choice: trades MUST be sent with NO SL and NO TP, and then must be modified to setup the SL+TP.
This leaves open any sort of "manipulation" you could imagine between those two non-atomic operations...
like a fictive "server connection problem", modify refused, fictive "server busy" errors, etc...
especially when you will start reving up your lot sizes to try to recoup losses...
I let you figure out the possible outcomes...

SteveHopwood has a famous word for those guys: he calls them "criminals"...

SQ

Hi Squalou
I have an instance where the pair hit TP1 and the EA only modified TP3 to BE but no order was sent to modify TP2 by the EA, (I do not mean a failed order, there is no record of the EA attempting to send an order). The price action retraced and closed TP3 at BE leaving TP2 open, the EA did not open a new set of orders when the price again exceeded the entry position which I looks correct as an order is still open. Still waiting to see if TP2 was modified when the price action attained TP1 position. See attached image which explains everything.

I checked the VPS / windows logs and can confirm that there was not some other event or issue that prevented this order being sent to modify the TP2.

And that was wise my friend. You should not ordersend before making sure your StopLoss will be accepted for your Ordermodify or you may end-up with a free ride to blowing you account simply because you have no stoploss in your order.

Now for the impatient, and because I can't stand ppl blowing there account - Squalou for you review (I use this Live with success and it maches exactly Mer's chart, but it's up to you, I made no recommendation):
EA: - ECN fix, GMT/DST fix and automatic - SQUALOU: this is a cleaner code than what I sent you earlier ... it allows to leave your code almost exactly as -is.
Indicator: - if you have this one, replace yours with it as I modded it also (but did not rename)
Library: - if the above indicator works fine (which I believe), then this should take care of everything.

This will automatically take care of everything for you, specifically in terms of GMT/DST, and you should have an EA that matches exactly the charts posted by Mer. If not, please provide your GMT as given by the indi, your borker's name and any error message (there should not be if you run windows and if previous squalou versions were working). For the geeky ones, I will try this code on Linux/Wine as this is my personal trading server's configuration.

This will work for backtesting and for Live account (I use this Live, but it's up to you, I made no recommendation).
For backtesting, you need to manually set GMT_Datasets and BacktestingMode = true

For Live, Set BacktestinMode = false and NoTradeLastDSTWeek = true

This is not perfect yet, the NoTradeLastDSTWeek shall be obselete soon as it simply prevents from trading the last week of March and October as I don't have the means to determine which day is the last sunday of March and October (the DST time switch).

However, I think I have that issue taken care of considering there is 31 days in both Months and that Sunday is either one of 25 to 31 dates .... so I may simply check for this. I will keep you posted.

Let me know if this does not work for you.
I consider this my contribution to Mer's and Squalou efforts. Now, considering this is fully automatic, How much time until we find this one through a commercial offer ?

From there, I would do the following:
- there should be some mechanism in place to prevent passing order 2 and 3 in case order 1 failed ( I don't think that exists yet)
- write a log file with the major variable to recover from a Metatrader crash

What is your agenda Squalou? Like I said, I will contribute eventually further.

XmPh

hi all, i love this thread. similar to the 1 minute daily system but better, has an EA and martingale.
ive only read pages 1-4, the page where CT was introduced and the last 2. 30 is alot to get through.

gilbert- this is a gd way of trading the system, i also would prefer only one BO trade per session as i think when 1st TP is not hit (3 losses) this hurts us.. if the strike rate is good 1 trade is all thats needed.
You said on Monday you have had no losers on GU, EU and UCH. I have my time /charts set to the same as yours and get the following -
(added EJ, GJ and UC as mer suggested)(Y=TP, N=SL)
16-20 aug:-----------------------------
GU: YNYNY 60% WR
EU: NNYYY 60% WR
UCH: YNNYY 60% WR
EJ: YYNYY 80% WR
GJ: YNYNY 60% WR
UC: YYYYY 100% WR

A RANDOM WEEK aug 2-6--------
GU: YNYYY 80% WR
EU: YYYYN 80% WR
UCH: NNYYY 60% WR
EJ: YNYYY 80% WR
GJ: YYNNY 60% WR
UC: YNNNY 40% WR

The av of these results gives a 68% win rate. Assuming this rate is constant, this is a good system!
I guess an average of win ratio over this year would give a better story.

mer/ squalou, is it pos to run the EA with only 1 trade?

Another thought on martingale. (im not a hater)

I guess the best way to use the EA is to backtest without mart. Find the best pair time, WITH THE LOWEST LOSERS IN A ROW, then trade it with mart?
The prob i see with the martingale aspect is if we get a run of losses it all over. Mer’s post 442 shows a multiplier of 34 (only the 5th losing trade gets x 34)
1st trade = .01 lots. If SL = 3 trades @ MM loss (say 2%) = -2%
2nd trade = .02 lots. If SL = 3 trades = -4% running total -6%
3rd trade = .05 lots. If SL = 3 trades = -10% running total -16%
4rd trade = .13 lots. If SL = 3 trades = -26% running total -42%
5rd trade = .34 lots. If SL = 3 trades = -68% running total -110%

So if the 5th lot of trades fail its bust? I could be adding wrong.
Back to the lowest losers in a row part, if this is below 3 or 4 in a row we wont be bust (always in fear tho). The other thing to do would be to lower the mart sequence risk.

Just constructive criticism, i want this to work as much as everyone else.

There is not an option for that at this time but I'm sure sqaulou already has that idea running through his brain. We are currently looking to work out the bugs first and then we will be looking into possibly adding or modifying options.


I know it's a pain in the butt, but you really must read through the whole thread. I've mentioned several times that this is a strategy that needs capital to work properly. Now there are some that have used a much milder martingale series with success, but that is up to the individual trader.

Okay, here are the results for Monday. I will continue from Friday with the results as normal for the Breakout strategy, but the Counter Trend strategy will be fresh as of today.

Let remember the rules for the new CT strategy:

1.) Enter on a breach of the "Entry/ Buy target 3" or "Entry/Sell Target 3" from either direction. If entering a trade towards the box, Target 4 must be triggered first. This will prevent whiplashing back and forth across our entry point and will guarantee that our current series will close before the a series is opened.

2.) We will only manage one series of trades at a time, unless a new box has formed in which new entries can be placed even if there are still open trades from the previous day. Only re-enter same day trades if a target has been triggered or stopped out. Again, as stated above, this will prevent whiplashing back and forth across our entry point and will guarantee that our current series will close before the a series is opened.

3.) Close T1 and T2 trades as normal. Close your T3 trade at Target 3 as normal if you wish, but for testing purposes I will be leaving the T3 trade run until either Target 5 is reached or stopped out on a retrace. This way Target 2 is "locked in" and we can have more pips to bank if the trade goes our way.

Eur/Usd

Breakout

New BO trades are opened with a multiplier of 2 from Friday.

T1= +44 (+22 x 2)
T2= +2 (+1 x 2)
T3= +2 (+1 x 2)

Running Total= +48 pips

Re-entry

T1= +22
T2= +1
T3= +1

Running Total= +72 pips

Re-enter

T1= +22
T2= +41
T3= +59

Final Total= +194 pips

New BO trades will be placed with no multiplier.

Counter Trend

T1= +23
T2= +1
T3= +1
Running Total= +25 pips

Re-entry

T1= +23
T2= +1
T3= +1

Running Total= +50 pips

Re-enter

T1= -23
T2= -23
T3= -23

Final Total= -19 pips

New CT trades will be placed with a multiplier of 2.

Gbp/Usd

Breakout

New BO trades are opened with a multiplier of 2 from Friday.

T1= +132 (+66 x 2)
T2= +240 (+120 x 2)
T3= Active-Target 2 locked in

Running Total= +372 pips

T3 trade still active- Target 2 is locked in with a multiplier of 2.

New BO trades will be placed with no multiplier.

Counter Trend

T1= -66
T2= -66
T3= -66

Final Total= -198 pips

New CT trades will be placed with a multiplier of 2.